Kroll Bond Rating Agency Assigns Senior Unsecured and Short-Term Debt Ratings of BBB+/K2 to Enterprise Financial Services Corp

Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB+, subordinated debt rating of BBB, and short-term debt rating of K2 to Clayton, Missouri based Enterprise Financial Services Corp (NASDAQ: EFSC or “the Company”). Moreover, KBRA has assigned deposit and senior unsecured debt ratings of A-, a subordinated debt rating of BBB+, and short-term debt and deposit ratings of K2 to the subsidiary bank, Enterprise Bank & Trust (“the Bank”). The outlook on all long-term ratings is stable.

Enterprise’s ratings are supported by strong and improving earnings metrics, diversified product lines, and strong underwriting practices as supported by above average asset quality. The ratings are also reflective of the institution’s proven track record of successful mergers and acquisitions, and scalable business model that is applicable to diverse specialty lending businesses. The ratings are counterbalanced by Enterprise Bank & Trust’s above average dependence on short-term (ST) noncore funding, large concentration of commercial and industrial (C&I) loans in the lending portfolio and a spread reliant revenue stream.

The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on February 19, 2016.

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About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

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